Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Fagor, manufacturer of domestic appliances, has filed for bankruptcy and is to make up to 2,000 staff redundant in Spain.
The company had run large deficits after the Spanish housing market had deteriorated from 2007 on. Bankruptcy was announced after a requested re-financing had not been approved by the cooperative network Mondragon.
Fagor’s management announced to save up to 1,200 workplaces internationally via relocation to other units of the group (most notably to Orona, Batz and Maier, Copreci). However, it is unclear to date how many jobs will be saved in Spain alone.
Workers organized several rounds of protests at different sites of the company.
Fagor employs about 2,000 staff in 5 production sites in Spain. Globally, the company operates 13 sites, employing 5,630 staff. Fagor’s French and Polish subsidiary also filed for bankruptcy.
UPDATE 20-01-2013:
According to recent sources, the restructuring will affect 2,093 workers, of which 1,603 are members of the cooperative. About 1,200 workers will be relocated while about 900 will be dismissed.
The Basque government aims at implementing a social plan, supported by the European Glogalisation Adjustment Fund (EFG).
Eurofound (2013), Fagor, Closure in Spain, factsheet number 76090, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76090.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
Can Europe still achieve its ambitions for battery manufacturing? To answer this, the article looks at data from Eurofound’s European Restructuring Monitor and explores what recent large-scale restructuring events reveal about the state of play in the EU battery sector.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
